- Seven fundamental investment ideas and five technical trading picks unveiled for Samvat 2083
- APL Apollo Tubes, Eternal, Jubilant Ingrevia, Persistent Systems and Ujjivan Small Finance Bank among the fundamental BUY recommendations
- HAL and Titan feature in the ADD category, while Bajaj Finance, ICICI Bank, JSW Steel, Bharat Electronics and Reliance Industries headline technical BUY calls
- Kotak Neo sees a more constructive market environment as valuations moderate and corporate earnings momentum strengthens
- Nifty 50 earnings growth projected at 18% in FY27 and 13% in FY28, with quality large-caps and select mid-caps preferred
NE BUSINESS BUREAU
MUMBAI, NOV 5
Kotak Neo, the retail arm of Kotak Securities Limited, has released its Top Stock Picks – Fundamental and Technical for Muhurat Trading this Diwali, Samvat 2083, offering investors a set of research-backed ideas as they look towards the new Hindu financial year.
Wishing investors a prosperous Diwali, Shrikant Chouhan, Head Equity Research, Kotak Neo, said: “Samvat 2083 presents a more constructive setup for long-term investors after a prolonged phase of correction and volatility. The Nifty 50 is trading at around 18.5x FY27 and 16.0x FY28 earnings, while we estimate earnings growth of approximately 18% in FY27 and 13% in FY28. Although geopolitical developments, crude oil prices and global monetary conditions may keep near-term volatility elevated, India’s structural growth story remains resilient. We believe investors should avoid trying to time the exact bottom and instead use meaningful corrections to gradually accumulate fundamentally strong businesses, with a preference for quality large & select mid-cap stocks. This Diwali, I wish all investors and their families prosperity, good health and happiness, and may Samvat 2083 bring disciplined investing, rewarding opportunities and enduring wealth creation.”
He recommends the following investment ideas for investors:
Samvat 2083 – fundamental Muhurat picks
| Stock | Rating | Price (₹) | Fair Value (₹) |
| APL Apollo Tubes Ltd. | BUY | 2,165 | 2,594 |
| Eternal Limited | BUY | 344 | 435 |
| Hindustan Aeronautics | ADD | 4,854 | 5,305 |
| Jubilant Ingrevia | BUY | 558 | 970 |
| Persistent Systems | BUY | 6,048 | 6,500 |
| Titan | ADD | 4,436 | 5,050 |
| Ujjivan Small Finance Bank | BUY | 53 | 85 |
<text color=”secondary” size=”xs”>Source: Kotak Institutional Equities Research, Kotak Neo – Private Client Group, NSE. Valuation summary based on prices as on October 30, 2026.</text>
Samvat 2083 – technical Muhurat picks
| Company | Action | Entry 1 (₹) | Entry 2 (₹) | Target (₹) | Stop Loss (₹) |
| Bajaj Finance Ltd. | BUY | 939 | 850 | 1,200 | 770 |
| ICICI Bank Limited | BUY | 1,398 | 1,300 | 1,800 | 1,200 |
| JSW Steel Ltd. | BUY | 1,246 | 1,200 | 1,475 | 1,150 |
| Bharat Electronics Ltd. | BUY | 370 | 350 | 410 | 340 |
| Reliance Industries | BUY | 1,165 | 1,100 | 1,400 | 1,050 |
India Outlook: Reasonable valuations, accelerated growth
The Indian macroeconomic environment suggests a steady growth outlook, supported by private-sector investment in value-added manufacturing. While near-term conditions remain challenging due to the Middle East conflict and volatile foreign outflows, steady domestic institutional buying continues to provide crucial market support.
The recent period of price and time correction has brought Indian equities to more reasonable valuations, with the Nifty 50 trading at 18.7 times FY27 and 16.5 times FY28 earnings. Remarkably, this valuation adjustment has occurred even as underlying corporate earnings have accelerated, driven by Nifty 50 Q1 FY27 year-on-year earnings growth reaching an 11-quarter high.
Kotak Neo estimates this strong double-digit momentum will persist, forecasting Nifty 50 earnings growth of approximately 18% in FY27 and 13% in FY28.
IPOs have broadened market participation and created fresh investment avenues. Although primary-market issuances temporarily absorb domestic liquidity, successful long-term listings expand the overall investible universe. Ultimately, this dynamic strengthens financial markets, offering sustainable opportunities for wealth creation.
While near-term global macroeconomic shocks may create headline market volatility, India’s structural transitions offer a resilient long-term opportunity that operates independently of short-term global noise. The widening gap between negative sentiment and improving valuations is creating a more constructive setup for disciplined, long-term investors.
Investors should consider gradually building a diversified portfolio of fundamentally strong businesses through staggered accumulation. This approach can help manage near-term volatility while retaining participation in an eventual market recovery.
Wishing you a joyous Diwali and a highly prosperous Samvat 2083